An insurance certificate shall be issued to each insured under an insured legal services plan. No insurance certificate shall be issued unless it contains the following provisions:—
(a) A statement of covered legal services and the basis for payment for such legal services;
(b) A statement of the duration of the legal services provided and of the terms and conditions upon which such services may be extended, renewed, amended, canceled or otherwise terminated; and
(c) A statement of the period of grace which will be allowed for making any payment due to the insurer which in any event shall not be less than thirty days.